Multifamily Income Property with Multiple
5618 S County Rd 1202 Midland, TX 79706
5618 S County Rd 1202, Midland, TX, 79706
$600,000
For Sale
$600,000
MULTI_FAMILY - Midland, TX
Property Size3,080 SF
Lot Size0.68 Acres
Price / SF$194.81
Days on Market31
Property Features for 5618 S County Rd 1202
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Bedrooms
- 8
- Bathrooms
- 8
- Rooms
- Bedroom 4, Bathroom 6, Bedroom 5, Bedroom 8, Bathroom 8, Bathroom 1, Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 3, Bathroom 5, Bedroom 1, Bedroom 2, Bathroom 3, Bedroom 7, Bathroom 7
- Exterior features
- Fence-Metal
- Fencing
- Fenced
- Standard status
- Active
- Size
- 3,080 SF
- Lot size
- 0.68 Acres
Taxes and HOA fees
- Tax Description
- Legal: Acres: 0.680, Subd: ARROW ESTATES, BLK: 001, LOT: 002, ADD: ARROW ESTATES
- Tax Annual Amount
- 326
Utilities
- Sewer type
- Septic Tank
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air, Electric
- Water source
- Well
Building Details
- Year built
- 2025
- Floors in Building
- 1
- Roof type
- Composition
Listing Agency
Heritage Real Estate
(432) 701-0550
5030 E University Suite B 401, Odessa, TX
Listed by
Elizabeth Belloc
(432) 305-6326
Added: Jun 18 Checked: Jul 18 at 1:06 am
MLS# 50096073
Listing URL
Copyright © 2026 Permian Basin Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This income-producing compound includes three structures on a single parcel: a 2025-built quadruplex with four 2-bedroom, 2-bath units, each with its own electric meter and dedicated septic; a 2015 Fleetwood manufactured home (32x48) with three bedrooms and two baths and a separate septic system; and a 2022-built 30x60x20 metal shop with tall clearance for equipment, fabrication, or storage. Three of the quad units are currently leased.
Located at 5618 S County Rd 1202, just outside Midland city limits in Midland County, the property sits on 0.68 acres and totals 3,080 square feet.
The configuration supports an owner-occupant setup by occupying one unit while leasing the remaining units, alongside an additional non-residential outbuilding for operational flexibility.
Located at 5618 S County Rd 1202, just outside Midland city limits in Midland County, the property sits on 0.68 acres and totals 3,080 square feet.
The configuration supports an owner-occupant setup by occupying one unit while leasing the remaining units, alongside an additional non-residential outbuilding for operational flexibility.
Key Highlights
- 2025‑built quadruplex with four 2 bed/2 bath units on one parcel, each with its own electric meter and dedicated septic
- Three quad units currently leased
- Two additional structures: 2015 Fleetwood manufactured home (32x48, 3 bed/2 bath) with separate septic and a 2022 metal shop (30x60x20) with tall clearance
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.5k | $13.80 |
| − Vacancy | −$3.2k | −$1.04 |
| EGI | $39.3k | $12.77 |
| − OpEx | −$11.8k | −$3.83 |
| NOI | $27.5k | $8.94 |
3,080 SF · lease $13.80/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$393.2K
$344.0K – $458.7K
NOI $27,521 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$366.6K
$320.7K – $427.7K
NOI $25,659 @ 7.0% cap · market cap 4.28%
Theoretical Best
Office A
$726.5K
$635.7K – $847.6K
NOI $50,857 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Three structures on one parcel include a 2025-built quadruplex, a manufactured home, and a tall-clearance metal shop.
Where is this quadplex located?
The property is located at 5618 S County Rd 1202 Midland, TX.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 2025‑built quadruplex with four 2 bed/2 bath units on one parcel, each with its own electric meter and dedicated septic; Three quad units currently leased; Two additional structures: 2015 Fleetwood manufactured home (32x48, 3 bed/2 bath) with separate septic and a 2022 metal shop (30x60x20) with tall clearance
